Executive Summary
Minster Pharmaceuticals plc is drug development company specialising in compounds for the treatment of neurological and psychiatric conditions. The Company was established as BioPartners Ltd in 2001 when it acquired from GlaxoSmithKline the worldwide development rights for two compounds, tonabersat and sabcomeline, which have benefited from GSK's substantial investment. Tonabersat, a novel compound for the treatment and prevention of migraine, completed a Phase II programme in over 1000 patients in the late 1990s, and is being developed further in this indication by Minster Pharmaceuticals. Sabcomeline has completed clinical trials in over 2,500 patients, and has been identified as a potential treatment for chronic schizophrenia. It is now in Phase II trials. Development work is carried out by service providers such as contract research organisations, and at the appropriate time Minster plans to license its pharmaceutical products to pharmaceutical companies in order to complete development, register and market the drugs. As well as the development of sabcomeline and tonabersat, the company is looking to take on the development of further compounds by way of acquisition or in-licensing.
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